M&T Bank Corp Sells 350 Shares of CoStar Group, Inc. (NASDAQ:CSGP)

M&T Bank Corp lowered its stake in CoStar Group, Inc. (NASDAQ:CSGP) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,980 shares of the technology company’s stock after selling 350 shares during the period. M&T Bank Corp’s holdings in CoStar Group were worth $1,717,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CSGP. Moran Wealth Management LLC grew its stake in CoStar Group by 2.0% during the third quarter. Moran Wealth Management LLC now owns 8,027 shares of the technology company’s stock worth $606,000 after buying an additional 161 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of CoStar Group by 9.7% in the 4th quarter. Allworth Financial LP now owns 1,950 shares of the technology company’s stock valued at $144,000 after purchasing an additional 173 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of CoStar Group by 2.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 7,786 shares of the technology company’s stock valued at $557,000 after purchasing an additional 176 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of CoStar Group by 1.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,133 shares of the technology company’s stock worth $1,443,000 after buying an additional 209 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in CoStar Group by 5.2% during the fourth quarter. V Square Quantitative Management LLC now owns 4,427 shares of the technology company’s stock worth $317,000 after acquiring an additional 220 shares in the last quarter. Institutional investors and hedge funds own 96.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CSGP. Wells Fargo & Company reduced their price target on shares of CoStar Group from $65.00 to $63.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 19th. StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group began coverage on shares of CoStar Group in a report on Friday, February 28th. They set a “buy” rating for the company. Needham & Company LLC cut their price objective on CoStar Group from $100.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, William Blair assumed coverage on CoStar Group in a research report on Friday, February 28th. They set a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, CoStar Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.07.

CoStar Group Stock Up 3.3 %

CoStar Group stock opened at $79.39 on Monday. The firm has a market cap of $32.56 billion, a price-to-earnings ratio of 226.83 and a beta of 0.93. CoStar Group, Inc. has a 52-week low of $68.26 and a 52-week high of $100.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 9.63 and a current ratio of 8.96. The firm has a 50 day moving average price of $74.73 and a two-hundred day moving average price of $75.63.

CoStar Group (NASDAQ:CSGP) last announced its earnings results on Tuesday, February 18th. The technology company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $709.40 million during the quarter, compared to the consensus estimate of $703.00 million. CoStar Group had a net margin of 5.07% and a return on equity of 3.11%. Equities analysts predict that CoStar Group, Inc. will post 0.94 EPS for the current year.

CoStar Group announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.